NPI Essential for Business Results, Yet Generally Ineffective
New product introduction (NPI) is a linchpin process in most corporations and industries. NPI is key to competitiveness, revenue growth, and customer retention. Given the importance of NPI to overall corporate success, it’s no surprise that manufacturers devote considerable cost and effort to it. According to our most recent data, the median manufacturer involves 25% of personnel in NPI and has a new product cycle that lasts 24 months on average. Despite the substantial investment, NPI often fails to deliver expected outcomes. Forty-four percent of NPIs fail to meet all or even most success criteria.
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